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Non-Tech : Another Investment forum

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Nov 5 4:00 PM EST

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To: White Bear who wrote (26)	4/19/2006 11:21:59 PM
From: Peter Dierks	of 340

People have been spending the increase in value of their homes. They get depressed because they have high credit card debts; they see a TV add for a second mortgage, so they go get an appraisal. Then they borrow to pay off the debt because Uncle Sam gives them a tax deduction, and feel smart. They may even borrow more to finance a trip to Hawaii because they deserve it. Then they run up credit card debt and the cycle repeats. These people are at great risk when real estate prices fall. Their loss may trigger an escalation of the home value declines.

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